Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

He 40 Required information (The following information applies to the questions displayed below.) The following adjusted trial balance at December 31 of Wilson Trucking Company.

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
He 40 Required information (The following information applies to the questions displayed below.) The following adjusted trial balance at December 31 of Wilson Trucking Company. Part 2 of 2 Credit 02:57:33 Debit $ 8,500 18,000 3,500 177,000 $ 36,500 90,000 Account Title Cash Accounts receivable office supplies Trucks Accumulated depreciation-Trucks Land Accounts payable Interest payable Long-term notes payable K. Wilson, Capital K. Wilson, Withdrawals Trucking revenue Depreciation expense-Trucks Salaries expense office supplies expense Interest expense Totals 13,500 4,500 60,500 175,000 20, 500 135,000 24,000 62,500 8,500 12,500 $ 425,000 $ 425,000 Prepare the closing entries for the year ended December 31. View transaction list CD 20 Prepare the closing entries for the year ended December 31, View transaction list 012 Journal entry worksheet 230 1 2 3 4 Prepare the entry to close the revenue account(s). Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 + Record entry Clear entry View general journal View transaction list Journal entry worksheet 27

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting A Critical Approach

Authors: John Friedlan

1st Edition

0130193720, 978-0130193728

More Books

Students also viewed these Accounting questions